The Federal Executive Council (FEC) has directed the Ministry of Finance open up a new investigation into the financial dealings of some of the government’s revenue generating agencies including the Nigerian Maritime Administration and Safety Agency (NIMASA), the Joint Admission and Matriculation Board (JAMB), among others after it uncovered massive disparity in the remittance of internally generated revenue by some of the agencies.
Addressing journalists on the outcome of the Council’s meeting presided over by President Muhammadu Buhari, the Minister of Finance, Mrs Kemi Adeosun, said that the Council specifically directed the Ministry of Finance to look into the past revenue remittances of NIMASA and JAMB.
According to her, the decision to probe the agencies was necessitated by the disparity discovered in the current and past remittances of the two agencies.
“The highest amount that JAMB had ever remitted into the consolidated revenue fund before this management was N3 million.
“This year so far, they have done N5 billion and the Minister of Education reported that they have an additional N3 billion that they are ready to remit which will take this year’s figure alone to N8 billion and they have not increased their charges, they have not increased their fees.
“So, the question the council members were asking is, where was all this money before?
“So, the directive was given that we must call the heads of all these agencies and similar ones to account for their financial dealings, and that is the directive we have been given and that is what we intend to do and it is a similar story with other agencies.
“These are the leakages which we have now come in and we are blocking,’’ she said.